Axsome Therapeutics’ (AXSM) Buy Rating Reiterated at Needham & Company LLC

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $130.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 42.89% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. UBS Group cut their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $124.64.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $90.98 on Tuesday. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $4.32 billion, a PE ratio of -13.98 and a beta of 1.26. Axsome Therapeutics has a 12 month low of $55.02 and a 12 month high of $98.40. The stock has a fifty day moving average price of $90.31 and a 200-day moving average price of $83.62.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 22.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sofinnova Investments Inc. acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $24,971,000. Tri Locum Partners LP increased its position in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after buying an additional 203,802 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $11,036,000. Hood River Capital Management LLC raised its stake in shares of Axsome Therapeutics by 32.6% during the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after buying an additional 127,997 shares during the period. Finally, Affinity Asset Advisors LLC lifted its position in shares of Axsome Therapeutics by 179.5% during the 1st quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock valued at $11,153,000 after buying an additional 89,758 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.